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Night terrors can strike CFOs no matter how big their company is.
For many finance professionals, judgment day comes down to company value. So how can you drive value and revenue when it’s a challenge just to keep your business afloat?
The answer: With advanced revenue analytics.
You need real-time analytics now.
Protecting your business and livelihood could come down to whether or not you use advanced revenue analytics.
Advanced revenue analytics is an artificial intelligence (AI) tool that can analyze your revenue streams and offer new pathways to profitability. It gives you company-saving insights within minutes or seconds of data collection.
Insights on the fly.
Because of the last year or so of anomalous pandemic-related business patterns, you need to stay ahead of the curve and create up-to-the-minute forecasts.
Analytics can help you find potential problems. For example, when revenue streams slow to a trickle, the AI can help you decide whether to eliminate an underperforming revenue source. It can also help you determine which revenue streams can show more profit and how.
Stay open, add value.
Advanced revenue analytics insights identify strategies to stay open and add value. They may include digitizing business operations, pivoting to new products and services, modifying product and service delivery, and building on products and services already offered.
By staying open, you drive key elements of business value like customer satisfaction, retention and loyalty, brand recognition, revenue, and market share.
How real-time revenue analytics work.
Real-time revenue analytics uses AI to collect, examine, and analyze vast amounts of data from company databases and marketplace sources.
Advanced analytics employs various techniques, such as data mining, pattern matching, and multivariate statistics, to assess the current state of a business, predict its future status, and recommend changes to ensure its continued success.
It delivers analytics continuously or on-demand. With ongoing results, you receive an alert when an action needs to be taken or when a pre-set auto-response has occurred. With on-demand, you can initiate a query to obtain results in written or dashboard reports.
Real-time revenue analytics accurately predicts which revenue streams will increase or decrease. This facilitates decision-making for resource allocation, product and service development, and future expansion or downsizing.
Add value with revenue analytics.
First, consider your goals. You want to stay open and drive value, even when revenues decrease due to supply chain disruptions and/or diminished consumer buying power.
You need insights into the factors impeding or supporting your goals in real-time when you can take action to protect your business and optimize its value.
Second, to obtain usable, actionable insights, you must identify the correct data for your analytics platform to collect and analyze. Although AI uses machine learning and algorithms to teach itself, it needs human input to initiate and support its operations.
Up-to-the-minute correct data includes news feeds announcing border closures and supply chain disruptions that affect your vendors and clients. You need customer data to understand how market changes affect purchasing power and buying habits.
Third, you need flexible insights into:
- Adapting products to meet customers’ needs
- Reducing contract and quote errors
- Adjusting prices to accommodate changing market conditions
Fourth, you need to track the changes you made to gauge their effectiveness and adjust, if necessary.
Real-time revenue analytics can confirm that you’re on the right track and add value to your business.
Streamline steps with ForecastEra’s new Revenue Forecast Suite.
ForecastEra’s new Revenue Forecast Suite drives value with real-time revenue analytics and out-of-the-box features and functions. These include a robust AI, cloud-based platform that can be programmed to collect and analyze the data needed to drive value.
You’ll get continuous and on-demand analytics from a single trusted source.
There’s no need to check multiple sources of information because the Revenue Forecasting Suite provides multiple sources through a single platform. It analyzes different data sets to give insights into specific markets, market conditions, and customers.
In short, with ForecastEra’s Revenue Forecasting Suite, CFOs will sleep happily.
NEW BUNDLE 40% OFF OFFER:
Because we want everyone to see the impact of having both newly updated Revenue Forecast Navigator and Sales Forecast Navigator, we are offering a whopping 40% discount when you buy both in a bundle.
Usually, both apps would be $75 per license, the bundled price is $45.
If you’d like to learn how Revenue & Sales Forecasting Suite works in your specific industry, click here to schedule your demo.